It is almost everyone's dream to become a citizen of a country with strong advantages. However, if you choose between such states, we recommend you pay attention to the Caribbean countries, particularly St. Kitts and Nevis.
However, it is not so easy to become the owner of the coveted "strong" passport. To do this, you need to invest in the country's economy, namely, to purchase residential property there. Having real estate in this state, you can automatically qualify for St Kitts citizenship.
One advantage of such a "strong" passport is the ability to enter the EU Schengen zone and the Caribbean without restriction.
You can get a document confirming your "Caribbean" citizenship within 6 months - the period required to review and confirm the fact of investment. Its main advantages are exemption from all kinds of taxes and numerous benefits and privileges. A Caribbean passport gives you almost unlimited opportunities in residence and legal economic activity.
Detailed Overview of St Kitts and Nevis CBI Program
To participate in the program, it is necessary to meet several conditions and invest certain amounts. For example, if the applicant has no family, he will have to pay $250,000; for a partner or other family member - $300,000; for a partner and one or two dependents - $350,000; for a relative under 18 and each adult family member - $50,000 and $75,000 respectively.
For a St Kitts passport by buying property, the minimum amounts are $400,000 and additional fees, the cost of which is specified separately.
The application process takes about four months to process. It may be approved, rejected, or continued. Additional documents may be requested from the applicant. Each potential investor also undergoes due diligence, which costs $10,000 for the primary applicant and $7500 for each relative of 16 years of age or older. The potential investor must also pay a state fee if the application is approved.
Note, the following changes have been incorporated into the program from July 2023:
• the minimum investment is doubled;
• physical presence of the applicant at the interview;
• expansion of the visa-free program with more countries;
• introduction of biometric and fingerprinting requirements for applicants.
• taking an oath from a prospective citizen;
• applicant must obtain a biometric electronic passport under the CBI program (valid for 10 years).
In addition to the primary applicant/investor, the partner of the main applicant, his minor children and children aged 18 to 25 years, as well as parents aged 65 years and older living with the main applicant on his maintenance, are eligible to participate in the program. However, each case is different, so it is essential to ensure that you are accompanied by an immigration agent with experience in successfully handling such cases.
Selecting the Right Real Estate Project
To participate in the St Kitts citizenship through real estate program, you should select a real estate developer. An agency that will assist you with the application and paperwork can provide a list of projects.
The government requires an investment of at least $400,000 in an approved real estate project and the payment of various fees. It is important to realize that real estate is a return investment; you can sell it after 7 years.
Selling private homes starts at $400,000 (apartments) or $800,000 (private family homes). According to Immigrant Invest expert Zlata Erlach, two or more applicants can apply together to buy one approved private home, provided that each potential investor makes a minimum investment of $400,000. The purchased homes must be owned by the applicant for seven years, after which time he can put the residential property up for sale.
Step-by-Step Guide to the Application Process
A step-by-step algorithm that will help you get the coveted status at St Kitts and Nevis:
1. Collecting and preparing a package of documents according to the program requirements.
2. Sending documents through an authorized agent.
3. Payment for collection and due diligence + 50% attorney's fee.
4. Receiving government approval (up to 3 months).
5. Payment for investment (no payment needed in case of rejection).
6. Obtaining a passport and certificate of citizenship from the St. Kitts Consulate.
All new citizens must also take an oath of allegiance to the Caribbean nation.
The Bottom Line
Studying all the requirements for obtaining St Kitts citizenship by investment is important. When preparing documents, carefully check all certificates and papers. Specialists of the immigration agency can help with this. They will provide consultations and legal support. This issue is disclosed in more detail on the website immigrantinvest.com. Do not miss the opportunity to change your life and settle in a new and prosperous Caribbean country. Your family, as well as you, will receive many benefits. It is your chance if you are a wealthy person looking for new development opportunities.
